Gore gets $530,000.00 Million to build new eco-fast cars, but , they will not be built in America
http://online.wsj.com/article/SB125383160812639013.html?mod=WSJ_hpp_MIDDLTopStories
When Government tries something new and it fails, we are forced to continue funding it.
Why were Al Gores cars not built in America?
Al Gore comes up with an Idea and my taxes go up.
Submitted by: Kathleen J Rogan
1 comment:
Okay here's the Fisker story, short answer: "Kleiner Perkins' investment in Fisker makes the Irvine, Calif., company one of the more viable electric-car startups".
Longer story below...
From "the Deal.com" Magazine, examining
The Wall Street Journal story about Fisker Automotive Inc. seems to sensationalize Al Gore's relationship with the electric-car startup as if he had something to do with the Department of Energy approving a $528 million loan. With little evidence to support its accusation, the story savages the startup for its Kleiner Perkins Caufield & Byers investment, suggesting Gore's role at the firm guaranteed the government's loan.
It probably is true that Kleiner Perkins more or less secured Fisker's government subsidy, but not because of some untoward political pressure or relationship. Instead, Kleiner Perkins' investment in Fisker makes the Irvine, Calif., company one of the more viable electric-car startups. According to The Deal Pipeline, Fisker has raised at least $150 million in two rounds of venture capital that the aforementioned Kleiner Perkins funded with others.
Many of the smaller companies jostling for a piece of the DOE's $25 billion pot are not nearly as well capitalized, with the exception being the other target for the story, Tesla Motors Inc. Tesla has raised an equally impressive amount of capital from other Silicon Valley stalwarts including Draper Fisher Jurvetson and VantagePoint Ventures. Likewise, Tesla secured a $465 million DOE loan in June.
So it seems finances and not-shady-political back-room dealing likely secured these companies a place at the DOE table -- leading one to conclude that this story exemplifies media critics' worst fears of what News Corp.'s (NASDAQ:NWSA) Rupert Murdoch would do with the Journal when he won control of Dow Jones & Co. in 2007: turn it into another tabloid. - Matthew Wurtzel
Journal's Fisker story, 9/25/09, 3:05 PM, http://www.thedeal.com/dealscape/2009/09/examining_the_journals_fisker.php
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